Emily Bowen and her boyfriend, Dean Myers, weren't going to buy their first home until some time in 2019.

Instead, the couple closed on their Beaverdale house in November, in part because of a $17,500 down payment grant they received from Wells Fargo. The banking giant expects 250 new homes will be purchased in the Des Moines metro under its down payment assistance program, NeighborhoodLIFT.

Wells Fargo gave $15,000 to put toward down payment and closing costs for those purchasing a home in Polk County and who earn 80 percent of the area's median income — up to $63,700 a year.

Teachers, military members or veterans, law enforcement officers, firefighters and emergency medical technicians could earn $79,600 and still qualify. They were also eligible for an additional $2,500 through the program.

Bowen, a special education teacher at King Elementary School, and Myers, a language arts teacher at Summit Middle School in Johnston, qualified for the higher grant.

"When we came across this grant, it was just too good of a thing to pass up, so we just gave it a shot," Bowen said. "It was just really exciting. It just seemed like everything fell into place."

The additional money put them in a 1920s home in their desirable neighborhood and in a price point they were comfortable with, she said. It also gave them room in the budget to personalize their home with new paint colors and appliances before moving in, Myers said.

Wells Fargo announced in September it would commit $4.7 million to help up to 250 potential home buyers in Polk County.

As of Dec. 14, 193 people who received the grants have closed on their homes. Another 57 are in the process of closing, the company said.

The majority were purchased in Des Moines and grants were primarily given to first-time home buyers like Bowen and Myers, said Marta Codina, Wells Fargo region bank president.

"It's a big deal. And we're excited about being part of that opportunity," she said. "As a company, we're very committed to advancing not just homeowners, but affordable and sustainable home ownership."

Buyers are required to stay in their homes for five years to get the full grant amount.

Des Moines is the 63rd community nationwide to participate in Wells Fargo's NeighborhoodLIFT program. Since 2012, it has helped more than 19,747 people purchase a home, according to the company.

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Wells Fargo, based in San Francisco, has been under fire since it was revealed in 2016 that employees had fraudulently opened fake accounts, including at least 12,000 in Iowa, to meet sales goals.

The bank last week agreed to a $575 million multi-state settlement to resolve claims that it engaged in deceptive practices. Wells Fargo is already paying $600 million in restitution and $1 billion in civil penalties as part of an agreement with the government.

Wells Fargo announced in November that it will lay off 400 Des Moines-area workers as the beleaguered bank works to shed tens of thousands of jobs across the country. It expects to cut as much as 10 percent of its overall workforce.

As part of the local NeighborhoodLIFT program, Wells Fargo also donated $200,000 to the 6th Avenue Corridor Main Street Program in Des Moines, a large-scale neighborhood revitalization effort focused on Sixth Avenue between Hickman Road and Interstate Highway 235.

Leaders from the 6th Avenue Corridor have been advocating for a more pedestrian- and bike-friendly street since 2012. The plan is to reduce the number of driving lanes for cars, widen the sidewalks and add a bicycle lane. Street trees, bus shelters, benches, public art and new lighting will also be added.

Construction on phase I of the streetscape project is scheduled to begin March 1.

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